Business Moves

Arthur J. Gallagher, Hughes Insurance

Arthur J. Gallagher & Co. acquired the Queensbury, New York-based independent insurance agency, Hughes Insurance Agency Inc.

From its headquarters in Queensbury and an office in Albany, Hughes serves the Glens Falls, Lake George Saratoga Springs corridor, as well as Albany, Troy, Latham, Clifton Park and Malta.

Hughes is headed by Linda Abodeely, president, and Joe Koncikowski, vice president, and represents national and regional insurance carriers offering personal and commercial insurance, as well as life and health. The agency team will continue to operate out of its current location as part of Gallagher Agency Alliance under the direction of Jen Tadin, managing director of Gallagher’s Global Small Business practice.

Gallagher Agency Alliance is a merger and acquisitions model partnering with agencies that specialize in small business property/casualty insurance and employee benefits. Arthur J. Gallagher & Co. is a global insurance brokerage, risk management and consulting services firm, headquartered in Rolling Meadows, Illinois.

World Insurance Associates, Exchange Underwriters

Insurance broker World Insurance Associates has agreed to purchase the personal and commercial insurance agency Exchange Underwriters Inc. from CB Financial Services Inc., the holding company for Pennsylvania-based Community Bank.

Current leadership and direct employees of Exchange Underwriters are expected to join World. Richard Boyer is president of Exchange. The agency has its office in Washington, Pennsylvania.

Community Bank purchased Exchange Underwriters in 2014; in 2018 it relocated to Washington and merged with Beynon Insurance Agency.

Community Bank operates its branch network in southwestern Pennsylvania and West Virginia. Community Bank offers retail and commercial lending and deposit services and provides commercial and personal insurance brokerage services through Exchange Underwriters.

World Insurance Associates is headquartered in Iselin, N.J.

IMA, EBS Insurance Brokers

Denver-based insurance brokerage IMA Financial Group expanded its employee benefits practice nationally with the acquisition of EBS Insurance Brokers of Newton, Mass.

EBS and its 30 employees offer health and welfare plan administration, executive and international benefits and financial services. Paul J. Rooney is an EBS founder and managing partner.

EBS Insurance Brokers will become EBS, an IMA Company, and its leadership team and associates will continue to operate out of the company’s headquarters in Newton.

Majority employee-owned IMA Financial Group Inc. is a national financial services company.

Patriot Growth, Blueprint Benefit Advisors

Pennsylvania-based Patriot Growth Insurance Services acquired Blueprint Benefit Advisors of Hamden, Connecticut. Blueprint provides employee benefits, human resource support, benefits technology, and compliance services.

This deal expands Patriot’s footprint in the New England region, which currently consists of more than 20 agencies offering risk management, property/casualty, and employee benefits insurance solutions.

Blueprint is led by Greg Coyne, Joseph Bucci, Michael Coppola, and Matt Luciani. It was founded in 2016 by combining Group Insurance Associates and Group Benefit Administrators of Connecticut.

Founded in 2019, Patriot is a national insurance services firm with more than 1,800 employees in 132 locations across 26 states.

World Insurance Associates, American Trust Insurance

World Insurance Associates LLC has acquired the business of American Trust Insurance LLC (ATI) of Huron, S.D.

ATI was founded in 2004, and now has eight offices within South Dakota. They provide personal and commercial insurance, health and life insurance, and specializes in crop/agricultural/farm insurance.

Higginbotham, Botson Insurance Group

Fort Worth, Texas-based Higginbotham has acquired Botson Insurance Group of Avon, Ohio. This move extends the Texas firm’s presence across Ohio, as Higginbotham last year formed a similar collaboration with western Ohio’s Community Insurance Group Ltd.

Botson offers personal and business insurance. The agency offers special business insurance programs for trade contractors, trucking companies, landscapers and equipment dealers.

Arthur J. Gallagher, Hunt Insurance

Arthur J. Gallagher & Co. acquired Palos Heights, Illinois-based Hunt Insurance Agency Inc., dba Hunt Insurance Group.

Hunt Insurance Group is a retail property/casualty agency specializing in labor unions and their associated benefit funds across the Midwest. Larry Hunt, Matt Hunt and their team will remain in their current location under the direction of Ryan Isaacs, head of Gallagher’s Midwest region retail P/C brokerage operations.

ReSource Pro, Helix Agency Services

ReSource Pro, an operations provider to insurance organizations, acquired Texas-based Helix Agency Services LLC, a provider of managed technology services for insurance agencies and brokers in the property/casualty marketplace.

Helix’s capabilities include system administration, data reporting and conversion, automation, and carrier password management.

Resource Pro offers advisory services, business process management optimization and data and technology solutions.

ALKEME, Flor Insurance Group

ALKEME acquired Flor Insurance Group, a multi-line independent insurance agency located in El Paso, Texas, and serving the entire United States.

Founded in 2010, Flor Insurance Group is focused on commercial trucking operations with a particular niche focus on international freight transportation. Flor also offers coverage for life and health, home and auto, and commercial.

Oakbridge, M D Iverson Group

Oakbridge Insurance Agency has acquired M D Iverson Group, an Atlanta-area agency and brokerage that focuses on commercial products and high-net-worth individuals.

M D Iverson will continue to operate its Fairburn, Georgia, office. Mike Iverson is principal of the agency.

Oakbridge, Akin Insurance Agency

Oakbridge Insurance Agency acquired Akin Insurance Agency, with offices in Vienna and Cordele, Georgia.

Akin specializes in agribusiness insurance and has been a family-run operation since 1954. It was founded by Edith Akin and was purchased by Shannon Akin in 1967.

The agency grew through sales, mergers and acquisitions, including the 1981 purchase of Hall-Rainey Agency in Cordele. Shan Akin, the current president, joined the firm in 2008.

Atlanta-based Oakbridge was founded in 2020.

Risk Strategies, Setnor Byer Insurance & Risk

Risk Strategies, a specialty insurance brokerage, has acquired Setnor, Byer, Boganoff Inc., which does business as Setnor Byer Insurance & Risk, a Fort Lauderdale-area brokerage and risk management firm.

Founded in 1981, Setnor Byer provides commercial and personal lines products. Anita Byer, the managing principal, will remain in her current leadership role.

The brokerage is licensed to do business in all 50 states and has international clients.

Risk Strategies is headquartered in Boston.

Brown & Brown, Caton-Hosey Insurance

Florida-based Brown & Brown Insurance has acquired Caton-Hosey Insurance, a personal and business-lines agency in Port Orange, Florida.

The agency was founded in 1948 and has been led by Rex Caton and John Hosey since the 1990s. The firm will continue operations in Port Orange.

The publicly traded Brown & Brown, headquartered in Daytona Beach, now has more than 500 office locations and agencies around the globe.

King Insurance Partners, Partners Insurance Agency

King Insurance Partners, an insurance brokerage based in Gainesville, Florida, acquired Partners Insurance Agency in Gainesville.

Sheila Williams is listed as general lines agent for Partners Insurance. She joined the agency in 2008. The agency offers personal auto and home products, along with commercial and construction coverage.

King Insurance Partners was founded in 1974. Malcolm King is CEO.

Alliant, PBC Insurance

Alliant Insurance Services acquired the employee benefits division of Eugene, Oregon-based PBC Insurance.

The PBC employee benefits team will join Alliant and continue serving clients from its Eugene headquarters.

PBC also offers property/casualty, life, and financial services, which are not part of the acquisition.

Alliant, Aldrich Benefits

Alliant Insurance Services acquired Oregon-based employee benefits firm Aldrich Benefits LP, a member of the Aldrich group of companies.

The Aldrich companies will continue to provide financial, wealth, tax, and business transition strategies and services to its clients. The Aldrich Benefits LP team will join Alliant.

Aldrich established its employee benefits business in 2003, and serves construction, manufacturing, healthcare, telecommunications, utilities, and professional services companies, among others.

Irvine, California-based Alliant is a distributor of diversified insurance products and services that operates through a network of specialized national platforms and local offices.

Johnson & Johnson, Mid Valley General Agency

Johnson & Johnson Inc. will expand its footprint into Oregon, Idaho, Montana and Washington by acquiring the assets of Mid Valley General Agency LLC based in Salem, Oregon.

Mid Valley is a family-owned managing general agency that specializes in providing serviced to retail insurance agents with hard-to-place risks.

Johnson & Johnson is a managing general agency based in Charleston, South Carolina.